It is expected that the Central Govt will get an unexpected hike in the salary in 2024. The DA Hike Central Govt Employees will be effected from January 2024. Visit the official website doe.gov.in for more information.
DA Hike Central Government Employees
The government will implement the increment in DA at the start of 2024. It is expected that the DA hike Central Govt employees will touch 50% of the threshold. Accordingly, DA is expected to be raised by 50 percent, according to Shiva Gopal Mishra, general secretary of the All India Railwaymen Federation.
After over a year, the government has finally authorized the outstanding DA and DR increases for central government employees and pensioners. The DA increment for the govt sector can touch 48 to 50% but the exact figure will be revealed later.
|DA Hike Central Govt
Thousands of central government employees and pensioners benefited from the start of the DA and DR raises in July.
Price Index for DA hike
On the basis of the percentage rise in the 12-month average of the All India Consumer Price Index for the period ending December 2024, the Central Government then can enhance DA by 48% to 50%. To make up for growing costs, the government gives DA to employees and pensioners. The CPI-IW measures how much the cost of living has increased over time.
Twice a year, the allowance is adjusted regularly.
The updated Pay Commission Dearness Allowance Hike According to a report by News Agency PTI, the Central Government would likely increase the dearness allowance for Central Government Employees by 50%.
Dearness Allowance (DA) Increment
According to the report, the Union Government would most likely boost the Dearness Allowance (DA) and Dearness Relief (DR) rates for its more than 1 crore workers and retirees by 3 percentage points to 45 percent from the current 42 percent, in accordance with the formula set down for that purpose. Mishra said that the Finance Ministry’s spending division will draft a proposal to increase DA along with its income implications and submit it for approval to the Union Cabinet.
DA/DR increase in 2024
The DA/DR increase, whenever announced, will take effect on July 1, 2024. There are currently more than 1 crore employees and pensioners in the central government. They receive DA/DR at a rate equal to 42% of their base salary or pension. The last DA increase took place on March 24, 2024, and it took effect on January 1, 2024. Media sources state that the DA and DR would increase by 3-5% in March 2024, starting in January 2024. The increment can reach up to 50% in 2024.
DA Increment 2024
Mishra said that the Finance Ministry’s spending division will draft a proposal to increase DA along with its income implications and submit it for approval to the Union Cabinet. The DA/DR increase, whenever announced, will take effect on July 1, 2024. There are currently more than 1 crore employees and pensioners in the central government. They receive DA/DR at a rate equal to 42% of their base salary or pension.
Employee unions have been clamoring for a revision to the fitting factor that determines their compensation. The fitment factor is a typical number that is added to the employee’s base pay to produce their overall compensation. All types of central government workers now get a common fitment benefit of 2.57.
DA (dearness allowance) Hike 2024
DA hikes are decided by the government according to the nation’s inflation rate. The DA will most likely be increased further if inflation is significant. Retail inflation in India has exceeded the RBI’s target range of 2 to 6 percent for the last 10 months. This could influence the government to approve more pay raises.